Summary

The COVID-19 pandemic has impacted the Indian textile sector severely, with significant erosion of demand due to lockdowns in India and its key export destinations. Demand outlook in the current fiscal is expected to remain challenging, as textile products are highly discretionary in nature.

The tough times, however, unfold a tailor-made opportunity: apparel companies worldwide are looking to diversify their supply base. Can India take advantage of the situation, or will its lower competitiveness come in the way?

Given these conditions, how are Indian textile firms expected to fare? Will players be able to weather this storm and bounce back next year?

To discuss these aspects, CRISIL is conducting a webinar on the textiles sector, which will cover:

• Impact of the pandemic on revenue growth and profitability for cotton yarn spinners and readymade garment (RMG) firms
• Competitiveness of Indian players vis a vis other exporting countries
• Profitability trends for cotton yarn spinners and RMG firms
• Credit perspective for cotton yarn spinners and RMG firms

The presentation will be followed by a panel discussion by industry leaders, and a Q&A session.